Terre Haute (IN) Daily Gazette, September 1, 1871.
Indianapolis, September 1-A sensation was created here yesterday by the
announcement of the failure of McErven (sic) & Son, bankers of Columbus,
Ind., for over $300,000. They held large deposits of county and city funds.
Their failure is owing to unfortunate speculations.
-------------------------------------------------------------------------
Terre Haute (IN) Daily Gazette, September 1, 1871.
The Indianapolis Journal of this morning as the following letter:
Columbus, Ind., August 31
To the Editor of the Journal:
Messrs. McEwen (sic) and Sons, bankers of this place, suspended payment
yesterday. Their liabilities are not known but are generally supposed to be
very heavy, some estimates being as high at $300,000. William McEwen, the
senior member of the firm, is quite wealthy owning large quantities of
valuable real estate, probably more than enough, if converted into money at
anything near its real value, to pay all the indebtedness of the firm. The
county and city treasurers and township trustee had each large deposits with
McEwen & Sons, and their suspension will be somewhat embarrassing.